BitFuFu Inc. (NASDAQ:FUFU) Short Interest Down 28.7% in March

BitFuFu Inc. (NASDAQ:FUFU) saw a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 113,479 shares, a decline of 28.7% from the February 26th total of 159,124 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 104,625 shares, the short-interest ratio is presently 1.1 days.

BitFuFu Trading Down 0.5%

Shares of FUFU traded down $0.01 during mid-day trading on Friday, reaching $1.89. The company’s stock had a trading volume of 78,056 shares, compared to its average volume of 159,723. The business has a fifty day moving average of $2.51 and a 200 day moving average of $3.00. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.94 and a quick ratio of 2.58. BitFuFu has a 1 year low of $1.56 and a 1 year high of $5.38.

BitFuFu (NASDAQ:FUFU) last issued its quarterly earnings results on Friday, March 20th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.18). The business had revenue of $91.80 million for the quarter, compared to analysts’ expectations of $105.15 million. BitFuFu had a negative net margin of 12.06% and a negative return on equity of 13.82%. Sell-side analysts predict that BitFuFu will post 0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Zacks Research lowered BitFuFu from a “hold” rating to a “strong sell” rating in a research report on Friday, March 20th. HC Wainwright cut their price objective on BitFuFu from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. Wall Street Zen lowered shares of BitFuFu from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of BitFuFu in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.38.

Hedge Funds Weigh In On BitFuFu

A number of large investors have recently made changes to their positions in the business. Boothbay Fund Management LLC purchased a new stake in shares of BitFuFu in the fourth quarter worth approximately $31,000. Engineers Gate Manager LP acquired a new position in BitFuFu in the 2nd quarter valued at approximately $36,000. Squarepoint Ops LLC purchased a new stake in BitFuFu in the 3rd quarter worth approximately $48,000. Prelude Capital Management LLC acquired a new stake in shares of BitFuFu during the 3rd quarter valued at $48,000. Finally, Jane Street Group LLC boosted its stake in shares of BitFuFu by 25.4% during the 2nd quarter. Jane Street Group LLC now owns 15,743 shares of the company’s stock valued at $51,000 after buying an additional 3,192 shares during the period. Institutional investors and hedge funds own 37.26% of the company’s stock.

About BitFuFu

BitFuFu Inc provides digital asset mining and cloud-mining services in Singapore. It also offers miner rental, and miner hosting and sales services to institutional customers and individual digital asset enthusiasts. The company is based in Singapore, Singapore.